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Taiwan Business TOPICS
Forecasts Rise, As Do Exports
Prospects continue to look positive for Taiwan’s economy in 2021. The National Development Council (NDC) forecast in mid-February that Taiwan’s GDP could expand by more than 4% this year. A few days later, the Directorate-General of Budget, Accounting and Statistics (DGBAS) upgraded its own GDP growth forecast from 3.83% to a much higher 4.64%. As factors in their revised forecasts, the two organizations cited Taiwan’s successful pandemic management, as well as strengthened exports, private investment, and consumer spending in 2021.
Ministry of Finance statistics show a 36.8% spike in exports in January 2021 compared to the same month last year. The MOF states that the substantial increase can be linked to the recent surge in demand for smartphones, laptops, TVs, and other technology products. Export orders in January rose 49.3% year-on-year to US$52.72 billion, according to the Ministry of Economic Affairs (MOEA). The m
President pledges aid for SMEs, touts the economy
By Su Yung-yao and Jonathan Chin / Staff reporter, with staff writer
President Tsai Ing-wen (蔡英文) yesterday pledged a comprehensive industry upgrade for small and medium-sized enterprises (SME) after touting the government’s economic achievements amid the COVID-19 pandemic.
Tsai made the remarks at a meeting in Taipei with representatives of the National Association of Small and Medium Enterprises, and the Small and Medium Enterprise Foundation.
“We have controlled the pandemic and did what every government in the world wanted to do, which is [ensuring] normal lives [for citizens], in addition to stabilizing the economy in this difficult time,” Tsai said.
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Having gender-sensitive policies is an important consideration for ministries of finance in setting budgets, meeting fiscal targets and allocating resources.
Minister in the Ministry of Economic Affairs and Investment, Marsha Caddle, made this point as she participated in the virtual UN Women Multi-Country Office – Caribbean Media Takeover Instagram Live entitled:
Why Do You Lead? as part of activities to mark International Women’s Day yesterday.
Caddle highlighted the attention Government paid to policies to address women’s burden of care, particularly as it relates to newborns and maternity leave.
“We are expanding that to look overall at parental leave . . . We’re going to help men/women deal with this care responsibility as a unit, because that is what is going to be important for women,” she said.
Mar 9, 2021 07:58 EST
Bitmain, a Beijing-based company best known for producing hardware for cryptocurrency mining, set up front companies in Taiwan in contravention of local law to hire semiconductor engineers with lucrative pay packages to develop AI technology for export to China, prosecutors in Taiwan allege.
According to local media reports, Bitmain set up two front companies in Taiwan under the names IC Link Limited Company and WiseCore to hire top engineers from Taiwan Semiconductor Manufacturing Company (TPE:2330) and MediaTek (TPE:2454). Although it isn’t illegal for China-based companies to set up branch offices in Taiwan, it requires registration with the government and it’s closely monitored under provisions in the